GMAC receives OK to resume uncontested mortgage foreclosures in N.J.

TRENTON – GMAC Mortgage has been given permission to resume residential mortgage foreclosures in New Jersey.

The appellate court’s special master issued its report that GMAC be allowed to resume processing uncontested mortgage foreclosures.

This makes the sixth such recommendation by the special master to allow resumption of such foreclosures in the state after the practices had been halted last year over concerns about possible abuse.

Earlier, OneWest Bank, Bank of America, Citibank, JPMorgan Chase, and Wells Fargo received approval to resume those foreclosure proceedings.

In December, the court acted in response to the practice known as “robo-signing’’ used by some mortgage lenders, in which a person signs sometimes hundreds of documents a day without knowing what they state.

In some cases, the banks already had ceased processing foreclosures in New Jersey while addressing the “robo-signing’’ problem.

The special master stated it is assured that GMAC has procedures in place to ensure compliance with the court’s concerns, that the information in foreclosure documents is supplied by someone properly authorized.

Previous coverage:

Another bank receives OK to resume uncontested mortgage foreclosures

 

GMAC receives OK to resume uncontested mortgage foreclosures in N.J.